The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-05-31
THE Coffee GsMBLERS
OF NEW YORK, WHO JUST NOW
ALE MAKING
Coffee Dear for the Coffee Drinkers
Why Cup viii cost More
This Year han Last.
IsPKoIAL TO THE APPRAL.I

HE CoFFEE EXCHANGE, NEW YORK,
Msy 30-Coffee is higher than it has
ever been efoIe for any considerable
period. The coffee 81 uation therefore
ia interesting, not to say FERROUS.
Gambling in it is just now wilder than
in any stocks or in any other produce.
The price has advaL ced 100 per cent.
in year, and il the lowest end high
est prices are taken, $50 per cent. If
thu present situation continues the
coffee drinkers in the United States
will pay SO. 100000 more for it than
they paid in 1885. and $50 600, 900
me re than they pad in 1882. Tee riHe
In price Is therefore equal to tee i'm
position OF about 81 on every man,
woman or child-wheihei coffee
drinkers or not--in the country, and
il the movement upward continues
coffee will pass out + d lily u 9 Of the
people and become luxury.
The cause Of this startling advance
in prce is thleefold. The consump-
ton has increased much more rapidly
than the supply. Ia 1867 the con.
sumption per capi'a was n pounds;
in 1873, the first year sf er it was put
on the free list, it was 67; in 1881 it
was $50, and it has since increased.
The range of prices has been for fair
Rio, in 1860, Is cents; in 1870. 10 TO
liz cents; in 1880, IA to 144 cents;
May OF last year, 81 cents. Now it is
about 20 Cents.
Ano her cause is the chance given
for gambling by the necessary lack Of
trustworthy. crop Iepors. There is
no concerted news gathering in inland
Br zl.t
IRE third cause ia the estimated
thortness of the crop in Brazi, which
hss now Just been gathered, and will
begin TO arrive about July let. This
Brs gil crop Ia estimated at from 9, $50 =
90 to AGO eco bars, The expecta-
ton year ago wa of crop of from
5,CO0,0l0 10 100000 bags. A short
age Of /, coo, coo bags from Brazil will
keep prices whsre they now e. The
crop in Java also is short. In Ceylen
the leaI disease has reduced the pro
duction by at least one.half. Thus
the supply of the very best coffee is
sure TO be smaller for this year than it
has been for generation,
Today the highest figures are paid
for Mysore coffee aud 1t is considered
the bret grown. Mysore is a part of
upper British Iadia, and the cul,iya-
ton OF the berry is eotirely under
European control, Thus far the leaf
disease, which has spfesd such havoc
in Java and Ceylon, has left British
India alone; but how long it will do
30 il ie hard to say. All attempts to
prapple with this disease have proved
fruitless, and II it ever puts in an sp.
pearence in Brazil the days Of coffee
drinking will be numbered. There
are those who believe that unless the
leaf disease can be grappled with sue.
cessiully 1t is only ques ion Of time
when cup OF coffee will be as great a
luxury as bottle of champagne.
Whether or not the price will be
maini famed at so high figure will de-
pend much on the future of specula-
ton. The only coffee exchange in
the co1ntry is tt at in New York,
which now has great boom. The
fever is higher than ever before in the
history of the trade. There ia more
gambling Ia 1t than in any other
grocery staple. The present uncer.
tain outlook of the supply has brought
outsiders into the speculation. Syn
dicates have been often formed to bull
the market, but in the m, jority oi
cases they have failed. The syndicate
of 1888, after costing the consumers Of
coffee over $4,000, 000 lest more thar
it made and brought down severs
large houses. The principal memberl
Of that syndicate were HAVE and RiC
houses, with some few New Yoil
houses added. The present syndicate
which is booming prices, is composed
OF New York, French and Brazilian
houses, and is by far the eironges
ever formed. There are, however
other outside houses which are bulli
on the situation, and several have
made good round eum already
! Messrs. Hard & Rand, who do no
speculate in options, but who ar
! the largest importers Of coffee
In this country, have netteC
anywhere from 100000 t
$750,O00. II we consider that bag o
coffee, which a year ago was wortl
, $l3, .is to-day worth $40, the creates
|. advance having taken piacs within tn,
last six weeks, the above estimate i
, not unreasonable, If it is net enti ely
; TOO small. Arnold, the old "Oofe,
King" has had his share OF the spoils
aud so has Selligsberg, who acted toI
tho defunct syndicate in 1888. TIT
/, Arbuckles, who are the largest dis
! tributors OF coffee in the word, mus
! hSye netted at least 5000, 900, although
they were not bulls on the market
THIS sum they have made in the ordi
: nary Iun OF trade. Cotton brokers
and even Wall Stree, hnanciers, hsv'
/. come into the option market, ss thu
! activity on the Coffee Exchange hs
: for some time been lre attractive
l. than either cotton or stocks, Whs
the actual results OF the present specu
, latiye crtze will be is hard to cay, bu